City of Cambridge finalizes $2M purchase of Dickson Street Parking lot

Owning the parking, and fighting back the flooding: that’s worth $2-million to Cambridge City Council.

Council voted yes to buying the parking lot at 27 Dickson Street, plus the Ainslie Street laneway beside it.

The total bill is $2.1-million to take ownership of the lot the city has been leasing for almost 40 years.

Talks have been underway for years to finalize the purchase, but both sides were unable to land on a price tag until now.

Now the city can work on flood mitigation measures, and owns the larger parcel of land for any future development.